1533 State and 11 West Arrellaga, Santa Barbara, CA, 93101 - Available for Sale

Retail For Sale

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Cantwells Market & Deli

1533 State and 11 West Arrellaga, Santa Barbara, CA 93101

$5,495,000

9,100 SF | Retail

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Nighttime picturesque on State Street

Retail Property For Sale

Price:
$5,495,000
Gross Leasable Area:
9,100 SF
Price/SF:
$603.85
Property Type:
Retail
Property Sub-type:
Neighborhood Center
Property Use Type:
Net Lease Investment with
10+ years left on lease
Commission Split:
2.5%
Cap Rate:
6%
Occupancy:
100%
No. Stories:
1
Tenancy:
Multiple
Year Built:
1995
Lot Size:
0.43 AC
APN / Parcel ID:
027-231-022
Listing ID
5725240
Last Updated
13 days ago

Find Out More...

Highlights

  • FEE SIMPLE PROPERTY LOCATED ON STATE STREET IN DOWNTOWN SANTA BARBARA
  • SELLER ALSO OWNS CANTWELLS MARKET -LOCATED ON SITE- AND PREFERS TO SELL AS PKG
  • SELLER CAN BE CREATIVE WITH FINANCING. PLS CALL FOR FINANCING OPTIONS

Description

FEE-SIMPLE PROPERTY on State St. consists of 2 Spanish-tiled buildings totaling 9,100 s.f. of improvements on an 18,879 s.f. corner parcel. This location, on the business corridor of one of the most valuable commercial districts in the nation, sees 30,000+ cars a day. Owner also has conceptuals for the addition of 9 high-end condos, 6 executive offices, and underground parking. Zoned C-2 which allows for multiple uses, this property is currently leased to Cantwells Market, which has been paying $28,300 / month NNN ($3.11 / s.f. NNN).
Seller also owns the business & needs to sell the business & property together as a package (see Cantwells business listing at $1,100,000 for just the business). Summerland Cantwell' s business location is also available & should be included in this package (see Cantwells Summerland business listing at $895,000). Seller prefers to sell both businesses & the property together as a package.
Cantwells Market is a dynamic, long-standing Santa Barbara landmark approaching $5MIL in sales ($3MIL downtown / $2MIL in sales Summerland.) This pkg sale includes the fee-simple simple property on State St., the Cantwells business, F.F.&E.'s, T'.I.'s, etc.

The Cantwells Downtown Market & Deli is on the corner of Arrellaga and State Street, a prime piece of FEE SIMPLE real estate included in the offering, it is ideally-located smack-dab on the business corridor of one of the most valuable districts in the nation. Excellent visbility, high traffic (over 30,000 / day), loads of parking and easy-access. Take Hwy. 101 north to Arrellaga exit and go to State Street. OR, from the pier, go directly up State Street to Arrellaga.

Financial Summary

Major Tenant Information

  • Actual
  • 2012
  • $339,600
  • $339,600
  • $0
  • $339,000
  • $339,000

Map of 1533 State and 11 West Arrellaga, Santa Barbara, CA 93101

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Asking Price Index Trends for Santa Barbara, CA Retail For Sale

  Oct 14 vs. 3 mo.
prior
Y-O-Y
-
State
$203+1.0%+4.5%
-
Metro
$269+13.3%-9.3%
-
County
$269+13.3%-9.3%

View Santa Barbara Market Trends for other property types for sale or lease. Learn more about the chart info.

Cantwells Market & Deli
  • Retail
  • $5,495,000
  • 9,100 SF